Aon responds to Hector Sants’s financing call
Aon has called for the nature of risks posed by a firm to be taken into account when the FSA calculates fees.
The call by the broking giant followed confirmation by the FSA that its budget would increase by 10% to just over £500m in 2011/12 and that large firms should bear the brunt of the costs of financing the regulator.
Carol Richmond, chief risk officer for Aon, commented: "We work closely with the regulator, and have consistently argued that in determining which firms are considered ‘high impact' and which firms should finance the regulatory regime, the size of the business should not be the only
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